[News Article] LG Energy Solution leads growth with differentiated technology
LG Energy Solution
leads growth with differentiated technology
The Korea Times - LG
Energy Solution, which has continued innovation for the world's top
technological capabilities, invested 470.7 billion won ($351.3 million) in
research and development (R&D) in the first half of this year to enhance
its business competitiveness, up 24.4 percent from the previous year. The company is
actively expanding its core technologies such as next-generation
high-capacity/high-safety materials and its smart factories as well as
developing new products while exploring new promising businesses. Based on its
research and development capabilities, LG Energy Solution has registered 28,652
intellectual property rights as of the end of the first half of this year. When
including patent applications, the figure rises to 50,000. LG Energy Solution
has been expanding its influence further in the global battery market with
overwhelming technological competitiveness it has secured. As LG Energy
Solution holds various IPs, not only for cells but also for battery packs, BMS
(battery management system) and more, battery industry insiders say it is
virtually impossible to develop new batteries outside of the company’s patents. With growing global
demand on batteries, “mass production leadership,” which enables the production
of quality products on time, is becoming as important as the development of
core technologies and new products. On top of the
R&D centers it has been operating in Korea, China, the United States and
Europe, LG Energy Solution announced in April that it would invest 600 billion
won in "Ochang Energy Plant 2" to establish a "mother
line," with plan to make it the center for R&D and manufacturing. It plans to complete
construction by December 2024 and conduct pilot production and mass production
verification of "pouch long cell batteries" in the new mother line,
expanding it across its global production lines. Unlike the existing
pilot line centered on sample production, the mother line is equipped with mass
production capabilities, allowing not only trial production but also mass
production verification. The company thus expects the mother line will enable
it to more effectively cope with diverse customer demands while significantly
shortening the time required for stable mass production of new models. LG Energy Solution
signed an MOU with North Chungcheong Province and Cheongju City last year to
invest a total of 4 trillion won by 2026 in production and R&D, including
the battery mother line at Ochang Energy Plant. "Ochang Energy
Plant is the control tower where new technologies are applied first, and it is
the center of our global production facilities,” LG Energy Solution Vice
Chairman Kwon Young-soo said. "With the
establishment of the mother line, we will provide customers with world-class
QCD (quality, cost, delivery), further enhancing our differentiated
competitiveness." LG Energy Solution
has been establishing a stable global production system and expanding its
customer portfolio through technological capabilities. Currently, it is the top
player in the global electric vehicle battery market, excluding China, and has
eight out of the top 10 automakers ― GM, Ford, Stellantis, Volkswagen,
Renault-Nissan, Hyundai, Kia and BMW ― as its customers. The company achieved
order backlog of 440 trillion won as of the end of the first half of this year.
(Advertorial) Source: https://www.koreatimes.co.kr/www/tech/2023/09/419_359833.html
2023.09.25
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